StockNews.com Upgrades SpartanNash (NASDAQ:SPTN) to “Buy”

SpartanNash (NASDAQ:SPTN) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

SpartanNash Trading Up 1.7 %

SpartanNash stock opened at $18.15 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.83 and a current ratio of 1.62. The business’s 50-day simple moving average is $18.65 and its 200-day simple moving average is $20.10. The firm has a market capitalization of $612.65 million, a PE ratio of 13.65 and a beta of 0.35. SpartanNash has a 52 week low of $17.30 and a 52 week high of $23.00.

SpartanNash (NASDAQ:SPTN) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.24 billion. SpartanNash had a net margin of 0.48% and a return on equity of 8.57%. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 EPS. Equities research analysts forecast that SpartanNash will post 1.88 earnings per share for the current year.

Hedge Funds Weigh In On SpartanNash

Several hedge funds and other institutional investors have recently modified their holdings of SPTN. Canada Pension Plan Investment Board acquired a new stake in shares of SpartanNash during the 2nd quarter worth about $34,000. Signaturefd LLC lifted its holdings in SpartanNash by 64.9% during the 3rd quarter. Signaturefd LLC now owns 1,801 shares of the company’s stock worth $40,000 after buying an additional 709 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of SpartanNash by 64.7% during the third quarter. GAMMA Investing LLC now owns 3,920 shares of the company’s stock valued at $88,000 after acquiring an additional 1,540 shares during the period. Point72 Hong Kong Ltd acquired a new position in SpartanNash during the 2nd quarter valued at about $79,000. Finally, Blue Trust Inc. lifted its holdings in SpartanNash by 308.8% in the third quarter. Blue Trust Inc. now owns 7,531 shares of the company’s stock valued at $169,000 after buying an additional 5,689 shares during the period. Institutional investors own 84.59% of the company’s stock.

SpartanNash Company Profile

SpartanNash Company distributes and retails grocery products in the United States of America. It operates through Wholesale and Retail segments. The Wholesale segment offers grocery products and perishable food products, including dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmaceutical products to independent retailers, national accounts, food service distributors, e-commerce providers, and corporate owned retail stores.